Sports Betting Terminology

Betting Terms

Now that we’ve covered the basics of sports betting, I’d like to get into a little more detail about all the different sports betting lingo.

To the casual observer, sports betting looks complicated with all its jargon and betting types but it’s actually not as bad as it looks.

To get you started, we’ll cover some of the basic terms sports bettors use and then follow up with a list of some of the best sports betting sites.

Odds

When people use the word “odds” in a sports betting context, they are referring to the amounts the bookmaker will pay out on winning bets. Sportsbooks determine the odds they offer based on the chances they think an event will take place.

For example, if a sportsbook believes there’s a 1 in 10 chance that an underdog team will beat a good team, they might offer 9 to 1 odds on your bet. So if you bet $10 on the underdog and the underdog wins, you’ll get back $90. The reason they don’t offer 10 to 1 on this bet is because they need to figure in a profit to keep the sportsbook running. That profit comes from the difference between the actual chances of the team winning and the odds they pay out on winning bets.

Over/Under Bets and Totals Bets

These are pretty simple bets where the sportsbook offers bettors a chance to bet that some certain statistic will be either over a set amount or under it. For example, a sportsbook could offer an over/under bet on the combined score between two football teams. If the sportsbook set the total at 50 points, you could bet that the combined score between the two teams would be over 50 points or under 50 points.

An example of an over/under bet would look like this on a sportsbook site:

Pittsburgh Steelers + 42.5

vs  Cleveland Browns -42.5

This means that if you bet the over of +42.5, both teams must COMBINE to score at least 43 points (since halves are marked up to the nearest whole point) - if you bet the under, you are wagering the teams will score LESS than 42 points during the course of the game.

Spread

The spread is a bet that’s designed to get an equal number of bettors on both sides of the bet. If a very strong team is playing a weak team, too many people tend to bet on the strong team and this can seriously hurt big bookmakers.

To get people to bet on both sides of the event, the spread specifies that the winning team must win by a certain number of points to “satisfy the spread.” For example, if the Chiefs are playing the Raiders and the spread is Chiefs (-14) that means the Chiefs must win by 15 points or more. If the Chiefs only win by 7 points, the people who bet on the Chiefs lose and everyone who bet on the Raiders to win will win their bets.

Moneyline Bets

The money line is another type of bet designed to generate equal action on both sides of the outcome. If one team is favored against another, the sports bettor will have to risk more money to win less if they bet on the favorite. If the sports bettor picks the underdog, the sports bettor will win more money per dollar bet.

Moneylines usually look like this:

Chiefs -125
Raiders +140

In this example the negative sign means the Chiefs are the favorite and anyone betting on the Chiefs must put up $125 for every $100 in winnings. The people who bet on the Raiders can win $140 for every $100 they risk on this bet.

Parlays

Parlay bets are designed to let sports bettors bet on several different matches at the same time. The best way to explain a parlay is to use an example:

Let’s say the Chiefs are playing the Raiders and the Cowboys are playing the Redskins this weekend. You pick one team for each match and if both your teams win, you get paid better odds than you would if you’d just picked one game.

So in this example you pick the Chiefs and Cowboys as the winners. If both teams win, you win the entire parlay. If either or both teams lose, you lose the entire parlay. Parlay bets are harder to win but they offer a chance to win big money. You can pick up to 15 matches at most sportsbooks.  It is also known to be one of the more enjoyable things casual sports bettors enjoy wagering on, just because it makes watching multiple sports games that much more exciting to watch and follow.

Best Sports Betting Sites

There are a lot of sports betting sites to pick from so we’ve found the ones that are the easiest to navigate and offer the most varied sports betting options. All of these sites are great places to take your business so click on the name of each one to read the full review and pick the one that suits you the best.

PlayersOnly.com - This site has been around since 1996 and accepts players from around the world, including the United States. As an additional bonus, PlayersOnly.com will give you an INSTANT 10% cash bonus into your betting account upon your first deposit.

Sportsbook.com - Sportsbook.com is probably the biggest sports betting site in the world. All new players qualify for an unlimited 10% INSTANT match bonus. The site is easy to navigate and you can bet on just about every sport imaginable.

Superbook.com - Superbook.com has been online for over 10 years now and they have one of the biggest bonuses on this list. New players can get up to 30% on their first deposit just for playing at Superbook.com. This site is a member of the Sportsbook.com network so you’ll find great customer support and tons of betting options.

Bet US - With a history dating back to 1994, Bet US is ancient in internet terms. Bet US has served millions of customers over the years and has proven itself to be one of the best sites on the internet. They offer a huge sign-up bonus and plenty of sports betting options.

Ladbrokes Sportsbook - Ladbrokes is one of the biggest names in UK sports betting, with a history going back to 1902. You can bet on tons of different sports at the Ladbrokes website and they’ll match your first bet up to $100.

Bodog Sportsbook - Bodog is one of the most trusted gambling brands out there with a reputation for honesty and a multitude of betting options. Whether you want to bet on football, soccer, MMA or any other sport, Bodog has your back. If you sign up after visiting Bodog through one of our links, you’ll get an unlimited 10% match on your first deposit.